RBI asks banks to monitor availability of cash in ATMs, ensure timely replenishment to avoid cash-outs

It has clearly said that, From 1st October 2021, Cash-out at any ATM of more than ten hours in a month will attract a penalty of ₹ 10,000/- per ATM.

Reserve Bank of India has asked banks to monitor availability of cash in ATMs and ensure timely replenishment to avoid cash-outs. It has clearly said that, From 1st October 2021, Cash-out at any ATM of more than ten hours in a month will attract a penalty of ₹ 10,000/- per ATM.

If a customer is not able to withdraw cash due to non-availability of cash in a particular ATM will be counted as an instance of cash-out in an ATM. RBI issued notification of Scheme of Penalty for non-replenishment of ATMs yesterday.

It has asked all the banks and white label ATM operators to put in place a robust system for monitoring the availability of cash in ATMs. Banks shall submit system generated statements on downtime of ATMs due to non- replenishment of cash to the Issue Department of RBI for every month within five days of the following month.

Tags

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button